In the fast-evolving world of Southeast Asia’s startup ecosystem, Indonesia has proudly made a mark. In the latest Forbes Asia 100 to Watch 2025 list, eight Indonesian startups earned recognition for their innovation, impact, and potential. This article will explore their unique strengths, diverse sectors, and what their inclusion means for the future of Indonesian startups Forbes Asia 100.

The Rise of Indonesian Startups Forbes Asia 100

Forbes Asia’s annual 100 to Watch list highlights the most promising startups and small companies across Asia-Pacific. Indonesia’s presence on the list is powerful: eight startups were selected in 2025, reflecting the growing maturity and dynamism of the nation’s innovation ecosystem. This significant representation underscores how Indonesian startups Forbes Asia 100 are becoming global contenders in fintech, green tech, food, manufacturing, and beyond.

Spotlight on the Eight Trailblazers

Let’s take a closer look at each startup and what makes them stand out:

1. Brik (Industry & Manufacturing)

Founded in 2022 and led by CEO Francis Anugrah, Brik delivers eco-friendly building materials—everything from sustainable cement to heat-resistant paints, via a direct digital platform. They streamline the supply chain and offer online tracking, serving both major corporations and smaller developers. Recently, they raised substantial Series A funding led by Jungle Ventures.

2. Esensi Solusi Buana (ESB) (Technology & Robotics)

Established in 2018 by CEO Gunawan Woen, ESB creates point-of-sale, ERP, and online ordering systems for the Indonesian food and beverage industry. They serve over 30,000 merchants, including prominent brands like Starbucks and Genki Sushi. With roughly USD 40 million in funding, including a Series B round in 2022 from Alpha JWC Ventures, ESB exemplifies tech-driven growth.

3. Monit (Fintech)

Headed by Rizki Aditya and founded in 2022 in Jakarta, Monit offers corporate debit cards and real-time expense tracking for businesses. They’ve attracted clients such as Ciputra Group and Astro, and recently secured USD 2.5 million in Series A funding led by Cento Ventures.

4. Rekosistem (Green Tech & Energy)

Founded in 2021 by Ernest Christian Layman, Rekosistem operates a digital waste management service that collects, sorts, recycles, and tracks waste in line with ESG principles. They raised USD 12 million in Series A funding from Saratoga Investama Sedaya and K3 Ventures.

5. Ringkas (Fintech / Real-Estate Financing)

Launched in 2022 by Ilya Kravtsov and Leroy Pinto, Ringkas streamlines mortgage financing via an AI-powered digital platform that connects borrowers with multiple banks. They pulled in USD 5.1 million in pre-Series A funding to enhance AI capabilities, expand teams, and grow across Southeast Asia.

6. Se’Indonesia (Food & Retail)

Founded by Rinaldi Dharma Utama and Christian Wilfandio, this startup operates a fast-casual restaurant chain serving “se’i” (a traditional East Nusa Tenggara specialty). They reportedly sell over 2 million portions monthly from around 30 outlets and landed USD 9.7 million in Series A funding from Insignia Ventures.

7. Skor Technologies (Fintech / Personal Finance)

Led by CEO Ongki Kurniawan in 2022, Skor offers a personal finance app, Skorlife, and a credit card, Skorcard, in partnership with Bank Mayapada. They raised approximately USD 12 million in pre-Series A funding from Argor Capital.

8. Torch (Retail Accessories)

Founded in 2015 by Ben Wirawan, Torch produces affordable travel accessories like backpacks and wallets. With 14 offline stores and a target to reach 50 outlets, they are projected to hit USD 70 million in revenue by 2029. Torch is backed by Init6, founded by Bukalapak’s co-founder.

Why Inclusion Matters for Indonesian Startups Forbes Asia 100

Diversified innovation: This group covers a broad spectrum, fintech, sustainability, retail, food tech, and green solutions—highlighting Indonesia’s evolving startup landscape.

Strong investor confidence: Together, these startups have secured over USD 100 million in funding. Strategic investors like Jungle Ventures, Alpha JWC, Cento Ventures, Saratoga, Insignia, and Argor Capital are fueling their expansion. Global visibility and credibility: Being featured in Forbes Asia 100 to Watch elevates these startups on the regional and global stage, offering credibility that may open doors to partnerships and new markets.

How These Startups Reflect Indonesia’s Emerging Strengths

Fintech leadership: Four of the eight startups—Monit, Ringkas, Skor Technologies, and even ESB to some extent—focus on financial solutions, signaling that fintech remains a vibrant and critical sector in Indonesia.

• Sustainability and ESG focus: Rekosistem stands out for integrating ESG values into its core operations, offering a scalable model for digital environmental solutions.
• Cultural integration: Se’Indonesia leverages local cuisine and heritage in a fast-casual model that resonates with modern dining trends and consumer nostalgia.
• Manufacturing meets technology: Brik innovates within a traditionally offline sector by introducing digital sourcing and tracking for building materials.
• Mass market strategy: Torch’s offline retail strategy, paired with affordability, demonstrates how brick-and-mortar startups can still scale effectively.

What Comes Next for These Startups?

1. Regional expansion: With strong funding, many are positioned to branch into Southeast Asia’s larger markets.
2. Partnerships: Inclusion on Forbes Asia’s list can spark collaborations with global brands, accelerators, or corporates.
3. New funding rounds: Their current success sets the stage for Series B or growth-stage investments.
4. Public interest and hiring: Being spotlighted by Forbes attracts not just investors but also talent, especially as they grow.
5. Policy and ecosystem boost: Recognition at this scale helps enhance Indonesia’s reputation as a startup hub, encouraging both domestic support and international capital.

Indonesia’s rising stars on the Forbes Asia 100 to Watch 2025 list offer a compelling narrative of innovation, diversity, and strategic growth. From fintech disruptors to green tech pioneers, each reflects a distinctive edge and collectively they signal a compelling story: that Indonesian startups Forbes Asia 100 are not only following global trends but creating them.

As these ventures scale up and evolve, the ripple effect could reshape not just the local ecosystem, but also generate new benchmarks across Asia.